REG - Capital Limited - Contracts Update

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RNS Number : 2173U  Capital Limited  25 February 2026

 

 

Capital Limited

("Capital", the "Group" or the "Company")

 

Contracts Update

 

Capital (LSE: CAPD), a leading mining services company, is pleased to announce
several material contract developments across its drilling, mining and
laboratory operations.

Commenting on the new contract awards, Jamie Boyton, Executive Chairman, said:

"We are pleased to announce today that we continue to capitalise on the highly
favourable demand environment and are starting to deploy the funds recently
raised to support our growth strategy. We are seeing this increasing demand
across all parts of the business, with contract wins highlighted below
spanning mining, drilling and MSALABS.

 

In mining, we have recommenced waste stripping mining at the Sukari Gold Mine,
utilising our remaining fleet at site. Our drilling business has secured a
multi-year grade control drilling contract with Montage Gold in Côte
d'Ivoire. MSALABS has secured a multi-year contract with Equinox Gold,
underpinning the decision to construct a commercial laboratory in Newfoundland
and deploy another PhotonAssay(TM) unit.

 

We are excited by the momentum we are seeing and will provide further detail,
including guidance for 2026, at our FY2025 results on the 19(th) March."

Waste Stripping Contract at Sukari Gold Mine

·      Capital has been awarded a waste stripping cutback services
contract at Sukari Gold Mine, operated by AngloGold Ashanti

o  This contract will utilise our existing equipment still on site supported
by a number of newly purchased trucks and additional ancillary equipment

o  The contract term is 18 months and is expected to commence in Q1 2026,
with our existing equipment, followed by the new equipment phasing in through
Q2 2026

Grade Control Drilling Contract with Montage Gold

·      Capital has been awarded a 5-year grade control drilling contract
with Montage Gold at its Koné Gold Project in Côte d'Ivoire

o  Mobilisation is expected to start in Q2 2026

Equinox Gold - Newfoundland MSALABS Laboratory Contract

·      MSALABS has been awarded a 5-year commercial laboratory services
contract with Equinox Gold's Valentine Project in Newfoundland, Canada

o  This contract will underpin the construction of a new commercial
laboratory in Newfoundland utilising PhotonAssay(TM) technology, as well as
providing sample preparation and multi-element analysis

Other Recent and Previously Announced Awards

As previously announced, MSALABS has:

·      been awarded a 5-year contract to build and operate an on-site
laboratory at Montage Gold's Koné Gold Project in Côte d'Ivoire;

·      been awarded a 3-year contract with IAMGOLD's Westwood mine
through our commercial laboratory in Val d'Or; and

·      commenced construction for a second commercial laboratory in
Côte d'Ivoire, equipped with PhotonAssay(TM) technology.

Additionally, the Group has been awarded several smaller contract extensions
and additions across its existing drilling contracts and several smaller
laboratories services contracts.

 

- ENDS -

 

For further information, please visit Capital's website www.capdrill.com or
contact:

 

Capital Limited
 
 
investor@capdrill.com

Jamie Boyton, Executive Chair

Rick Robson, Chief Financial Officer

Conor Rowley, GM Commercial & Corporate Development

Ryan Tennis, Corporate Development & Investor Relations

 

Tamesis Partners
LLP
                                +44 20 3882
2868

Charlie Bendon

Richard Greenfield

 

Stifel Nicolaus Europe Limited
 
                                +44 20 7710
7600

Ashton Clanfield

Varun Talwar

 

Panmure Liberum Limited
 
                                +44 20 3100
2000

Scott Mathieson

John More

 

FTI
Consulting
                                +44 20 3727
1000

Ben
Brewerton
 
                capitallimited@fticonsulting.com

Nick Hennis
 

 

About Capital Limited

Capital Limited is a leading mining services company that provides a complete
range of drilling, mining, maintenance and geochemical laboratory solutions to
customers within the global minerals industry. The Company's services include
exploration, delineation and production drilling; load and haul services;
maintenance; and geochemical analysis. The Group's corporate headquarters are
in the United Kingdom and it has established operations in Canada, Côte
d'Ivoire, Democratic Republic of Congo, Egypt, Gabon, Guinea, Kenya, Mali,
Mauritania, Pakistan, Saudi Arabia, Tanzania, United States of America and
Zambia.

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